Discount retailer Dollar Tree, the parent company of Family Dollar, announced it would close nearly 1,000 stores across the country.

“We plan to close approximately 600 Family Dollar stores in the first half of fiscal year 2024,” Dollar Tree said in a Q4 2023 earnings ratio. “Additionally, approximately 370 Family Dollar and 30 Dollar Tree stores will close over the next several years at the end of each store's current lease term.”

The chain did not disclose which stores would be closed, but noted that the company made its decision after evaluating its portfolio for underperforming locations.

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Family Dollar was acquired by Dollar Tree in 2015 in a deal valued at $8.5 billion.

The news comes after controversy over Family Dollar, which has paid from $41.6 million in a plea deal with the FDA last month after it was found that the chain had been storing cosmetics, drugs and medical devices in an unsafe manner for years.

company were also settled for $1.35 million last summer after a class-action lawsuit alleging workers' dangerous working conditions at the stores.

In a fourth quarter 2023 earnings report, the company reported that its Dollar Tree brand chains saw a 6.3% increase in same-store net sales, while Family Dollar stores saw a 1.2% decline in the same area.

“We finished the year strong, with fourth quarter results reflecting positive traffic trends, market share gains and adjusted margin improvement in both segments,” said Rick Dreiling, chairman and CEO of Dollar Tree, in a notification. “While we are still in the early stages of our transformation journey, I am proud of what our team has achieved in 2023 and see a long track of growth ahead of us.”

Dollar tree was down down just under 11% year over year as of Thursday afternoon.